So, is it your opinion that a double reg failure on the same dive is a likely enough event that you need to plan for it and pay the costs to maintain the equipment to mitigate such an occourance?
No, a double reg failure is something I consider statistically impossible.
I am just worried that the primar reg fails (which happened to me in several occasions) and that I loose access to all the air which is trapped in the main tank.
At that point you bail out on the pony, but that is small, probably not enough for a normal return to your boat.
So you are forced to a direct vertical ascent straight up, far away from the boat, which means surfacing in a very risky condition, possibly with rough sea, wind, and uncapable to surface swim to the boat.
You are solo, so who is going to help you?
A pony is an additional safety added when diving solo, but I always want some amount of redundancy from my main tank.
I always use two separate regs for my normal rec diving (with my wife as a buddy).
And definitely I would not get rid of one of them if diving solo, which by definition is more dangerous.
A pony provides additional redundancy, but of lesser value and capacity than a dual valve large tank with two separate regs, which is my basic recreational setup.
I always considered octos "not safe enough" for me...